Kosan BioSciences -- KOSN Message Board

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Biotech / Medical : Kosan BioSciences -- KOSN

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To: keokalani'nui who wrote (297)	6/24/2003 1:00:25 PM
From: quidditch	Read Replies (1) of 933

Wilder, a sale pursuant to a Form 144 is not part of a programmed series of sales, as per mandated, periodic sales intended to avoid any Section 16 or Rule 10b-5 issues. A sale pursuant to Form 144 means that the seller is selling restricted stock within the volume limitations, manner of sale (unsolicited broker's transaction), and holding period requirement (minimum one year--if held for two years, unlimited amounts of stock may be sold if the seller is not an affiliate) and other requirements of the rule (e.g., KOSN is a reporting company under the Exchange Act). A Form 144 is filed in connection with a specific sale, and the Form 4 would reflect the change in his insider's holdings. In any event, in conjunction with the SKI news, doesn't appear to be welcome stuff. quid

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